Small Business Law Attorneys

Small business lawyers and attorneys deal with the area of law that involves the creation and needs of "small business". A small business can be any activity or enterprise entered into for profit. The most common small business formations are:

• Sole proprietorship - only one owner.
  
  
• Partnership (regular partnership, general partnership, limited partnership or limited liability partnership).
  
  
• Corporation - can either be the default C Corporation (Subchapter C Corporation) or the small business can opt for the S Corporation (Subchapter S) tax election.
  
  
• Limited Liability Company (LLC) - hybrid formation that limits personal liability for business owners, while maintaining the flexibility and some of the tax advantages of a sole proprietorship or partnership.

What is a small business?

A small business is a business that is considered "small" according to established size standards. The Small Business Association (SBA) has established a size standard for most industries in the economy. Typical size standards include:

• 500 employees for most manufacturing and mining industries
• 100 employees for all wholesale trade industries
• $6 million for most retail and service industries
• $28.5 million for most general & heavy construction industries
• $12 million for all special trade contractors
• $0.75 million for most agricultural industries

About one-fourth of industries have a size standard that is different from these levels. They vary from $0.75 million to $28.5 million for size standards based on average annual revenues and from 100 to 1500 employees for size standards based on number of employees. Other size standards also apply, and they differ from state to state. There are other laws pertaining to what is considered a small business and how small businesses are to be started up and operated. Consult with an attorney specializing in small businesses if you have legal questions pertaining to your small business.

Do you tend to ignore your corporate record keeping responsibilities and just hope for the best? Does keeping your corporate minute book complete and up-to-date seem relatively unimportant and all too easy to overlook? If so, you may be at risk for litigation and not even know it. Visit ManageMyMinutes to find out how you can reduce the risk of litigation for your corporation. Visit our Business Resources section for answers to questions asked by small businesses and other valuable business resources.

Should I hire a small business lawyer?

The laws and regulations that your business must follow depend on what state in which your business was formed, the legal formation of your business (sole proprietor, partnership, corporation, etc.) and the nature of your product or service. Because the laws change constantly, there is no way to maintain any up-to-date checklists of laws and regulations. Your best bet would be to retain a lawyer to keep you updated on the changing laws, advise and counsel you on remaining compliant with the laws relating to small busniesses and to represent you should any legal issues arise. Also, should you decide to incorporate or form a partnership, an attorney can assist you by advising you on what business formation would be best for your needs and assist you with the necessary filings. Use the form on this page to find a small business attorney that is right for you and your business needs.